I think TILA Rescission should be approached as a jurisdictional issue since it focuses on the procedural aspects of the TILA Rescission statute. In other words it should always be front and center. I think a problem with TILA Rescission is that not even borrowers understand that the rescission issue is over. By asking a …
Bottom Line: TILA Rescission is looming as a major risk factor to banks and investors who were not informed about the risk of TILA Rescission. The oddity is that the investors were not purchasing the loans and in fact agreed to replace the income stream from borrowers with an income stream from a fake trust. …
This case comes the closest yet to the truth about TILA Rescission. And it requires that TILA Rescission be applied — if there is an action to enforce within the statute of limitations covering contract actions in the state in which the property is located. The court’s conclusion that there must be a statute of …
9th Circuit Creeps Up the Ladder in Hoang TILA Rescission Breakthrough Read More »
major hat-tip to Charles Cox in Nevada. Federal Judge’s response to chicken little argument: [2] RMS argues that enforcing the statute as written would upend the mortgage industry. As noted, lending institutions faced with a notice of rescission have many options to protect their interests and ensure that the borrower is able to tender the …
Hat tip to anonymous tipster I have previously posted articles written by lawyers who researched and analyzed the TILA rescission statute 15 U.S.C. §1635 et seq. The bottom line is that they all have come to the same conclusions that I have after 12 years of study. The latest one brought to my attention was …
If you slow down and logically go through the statute and the Jesinoski decision it is easy to analyze the situation and come to a correct conclusion. This is not argument of law, it is the application of logic. SCOTUS and the statute state unequivocally that the rescission is effective WHEN it is mailed, by …
I have been getting the same questions from multiple attorneys and homeowners. One of them is preparing a brief to the U.S. Supreme Court on rescission, but is wondering, as things stand whether she has any right to sue for damages. When our team prepares a complaint or other pleading for a lawyer or homeowner …
What is the effect of TILA Rescission on My title? Can I sue for damages? Read More »
Lecturing Courts on Their Duty to Comply with SCOTUS Decisions Thursdays LIVE! Click in to the The Neil Garfield Show Or call in at (347) 850-1260, 6pm Eastern Thursdays While the Supreme Court of the United States (SCOTUS) unanimously (9-0) put to bed all of the arguments against the effectiveness of a notice of rescission under 15 …
Tonight! Open Rebellion By Inferior Courts Threatens Authority of SCOTUS! Read More »
The UCC is not ambivalent about protecting both the maker of a negotiable instrument and the party seeking to enforce it. The maker does not assume the risk of double liability except for instances where the note is purchased for value in good faith and without knowledge of the borrower’s defenses. In all other circumstances …
All contrary arguments are erroneous since they would insert a contingency where the statute contains no room for any contingency. The language of the statute bars any such contingency when it says that the TILA Rescission is effective upon delivery, by operation of law. If anyone wants the statute to say or mean anything different …
Why Everyone (except SCOTUS) is Wrong About TILA Rescission Read More »
At what point does a final decision of SCOTUS actually mean anything? When confronted with TILA rescission, virtually all lower courts, state and federal, have taken up legislating from the bench, essentially over-ruling the Supreme Court of the United States (literally legally impossible). Agree or disagree — everyone has that right. But to obey or …
RESCISSION: Reviewing Wells Fargo v Frazee, NJ App. Read More »
In my opinion any foreclosure judgment or foreclosure sale that took place after a notice of rescission was sent and delivered is completely void and should be treated the same as a wild deed. This is particularly true in cases where courts have ignored the rescission completely and failed to issue an order effectively vacating …
Why Borrowers Have the Right to Rescind under the Truth In Lending Act Read More »
Probably the main fallacy of the people who say that TILA Rescission is not possible or viable is that they project the outcome of a lawsuit to vacate rescission. Based upon their conjecture, they assume that Rescission is no more than a technicality. Congress, and SCOTUS beg to differ. It was enacted into law 50 …
10 years ago, seeing where the foreclosure wave was going and watching court cases, I said on these pages that the only solution to these foreclosures is Mandamus. First to stop judges from applying legal PRESUMPTIONS and second to stop judges from ignoring TILA rescission. Now someone has done it and others might follow suit, …
Rescission Precision Goes to U.S. Supreme Court Petition for Mandamus Read More »
Quiet title is a lawsuit not a motion. It must be worded correctly to fulfill the elements required for the court to consider the demand for quiet title. Otherwise it will be dismissed. For quiet title to apply the mortgage must be void not just unenforceable. TILA Rescission is a statutory remedy that is different …
Short Explanation of TILA RESCISSION vs Common Law Rescission Read More »
The menu of items that are due to the borrower as a condition precedent to making a claim for repayment is expansive and frankly in many cases is equivalent or nearly equivalent to the total amount of the principal claimed as loan repayment. Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make payments. …
The “free house” mythology will have become reality. That is what happens when you break the laws governing deceptive and predatory lending. … for those who don’t give up, the reward is substantial when TILA rescission is reluctantly recognized by the Courts as effective upon mailing. Get a consult! 202-838-6345 CALL NOW FOR TONIGHT’S SMALL …
This decision could be a lot worse for the banks and servicers than it might appear. The Trustee for a valid REMIC trust that owns the debt (and doesn’t just control the paper) is clearly NOT a debt collector. But considering that no Trustee has EVER claimed to be a holder in due course and …
9th Circuit: Trustee is Not Debt Collector But Reverses Trial Court on Rescission Read More »
Judicial Arrogance and Intolerance Keeps leading back to the same point — that TILA Rescission is not common law rescission. Yet Judges continue to rule on TILA rescission as though it were common law rescission. Here again the 9th Circuit confirms what the Supreme Court of the United States has already said — neither tender …
Rescission Redo: 9th Circuit AGAIN Rules that Tender is Not Necessary Read More »
We get it. Judges don’t like statutory rescission under TILA. They are not required to like TILA rescission but they are required to follow it. This decision openly defies the SCOTUS ruling and refuses to apply it. Despite clear legislative intent to prevent banks from stonewalling rescission they are succeeding in doing so nonetheless as …
Jesinoski Update: Homeowner, Bank and Court All Get it Wrong Read More »
Since it appears that Judges around the country are finding wiggle room where none exists, it may be wise to add the fraud charges to the initial complaint seeking enforcement of rescission, injunction, and quiet title. ================================ THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE …
We start with the simple and irrefutable premise that if the parties are NOT in litigation, only a timely lawsuit filed by a party with legal standing could be considered to vacate the TILA rescission that is effective, as a matter of law, when it is mailed. The note and mortgage become void at that …
Click in to tune in at The Neil Garfield Show Or call in at (347) 850-1260, 6pm Eastern Thursdays More than 40,000 people listen to the Neil Garfield Show. Maybe you should too. =============================== Schedule A Consult Now! https://www.vcita.com/v/lendinglies to schedule, leave message or make payments. Fill out our registration form now https://fs20.formsite.com/ngarfield/form271773666/index.html?1453992450583 For further information …
Rescission Procedure Explained — Tonight on the Neil Garfield Show Read More »
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